Given that the AGM is coming up on Thursday I thought I’d take the opportunity to start a thread for a discussion on what shareholders may want answered at the upcoming meeting, or what may be worth further discussion or what may be in the pipeline (see what I did there).. I for one would like some further clarification around what intentions are for this dry season and if there is any chance of a drill bit hitting the ground. It seems clear that for Rafa this will not be happening given their recent announcements surrounding the pathway for the appraisal.. I find it difficult to accept that as a predominantly exploration company they were not going to drill any other prospects this dry season though. Unfortunately I think any questions like this may be deflected due to the unknown funds that will be at hand due to the rights issue still being live at the time.. As they will still want the rights issue to successfully raise funds the impetus for the AGM really needs to still be for the selling of the story that is Rafa to push the SP up to encourage uptake of the rights. I think discussions surrounding the 3d seismic will be clearly discussed, but I’d like to hear a lot more about the 2d seismic planned for the prospect directly south of Rafa. I know it must still be really lacking detail due to the sparseness of surveys and the likes but I’d love to know what they anticipate the potential to be (even if it is a long shot) just to add some fuel to the fire and whilst they’re at it talk about what other prospects they may have on rafa trend or likely to have ungani dolomite between ungani and rafa.. whilst mentioned in the prospectus I haven’t seen any further mention of this. Looking at the lines on the previously planned seismic surveys over Rafa and the block below in 2020 the lines run all the way to the bottom of that block I for one hope the prospect is anticipated to potentially cover a lionshare of that the planned 3D also went a fair way into the southern block so I wonder if this is how far they thought it may extend into it.. I note that the previous planned seismic may differ to their current planned seismic which I have not seen a map of..
BRU Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
